LVW Advisors LLC Grows Position in ResMed Inc. (NYSE:RMD)

LVW Advisors LLC grew its stake in shares of ResMed Inc. (NYSE:RMD) by 23.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,098 shares of the medical equipment provider’s stock after buying an additional 587 shares during the period. LVW Advisors LLC’s holdings in ResMed were worth $708,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RMD. American Century Companies Inc. increased its position in ResMed by 17.7% during the second quarter. American Century Companies Inc. now owns 30,874 shares of the medical equipment provider’s stock worth $5,910,000 after buying an additional 4,639 shares in the last quarter. Dimensional Fund Advisors LP increased its position in ResMed by 19.3% during the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after buying an additional 107,279 shares in the last quarter. Ieq Capital LLC increased its position in ResMed by 4.8% during the second quarter. Ieq Capital LLC now owns 12,266 shares of the medical equipment provider’s stock worth $2,348,000 after buying an additional 563 shares in the last quarter. Benjamin Edwards Inc. increased its position in ResMed by 33.6% during the second quarter. Benjamin Edwards Inc. now owns 398 shares of the medical equipment provider’s stock worth $76,000 after buying an additional 100 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in ResMed by 2.9% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 31,733 shares of the medical equipment provider’s stock worth $6,074,000 after buying an additional 904 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 1.2 %

NYSE:RMD opened at $239.89 on Monday. The business’s 50-day moving average is $238.51 and its two-hundred day moving average is $233.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. ResMed Inc. has a 12 month low of $170.39 and a 12 month high of $260.49. The firm has a market capitalization of $35.22 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company posted $1.64 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. Research analysts predict that ResMed Inc. will post 9.36 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Thursday, November 7th. ResMed’s payout ratio is 28.08%.

Analysts Set New Price Targets

RMD has been the subject of a number of recent analyst reports. Bank of America lifted their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Piper Sandler initiated coverage on ResMed in a research report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price objective for the company. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $233.09.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total transaction of $497,480.00. Following the sale, the director now directly owns 83,204 shares of the company’s stock, valued at approximately $20,696,162.96. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Witte Jan De sold 796 shares of ResMed stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the sale, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,099 shares of company stock valued at $2,719,385. 0.71% of the stock is currently owned by insiders.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.